Naples, FL Real Estate Video Blog with The Saad Team

Season's Greetings from the Saad Team!

Naples is a beautiful city with gorgeous homes for sale. If you want to sell, we can provide a Home Price Evaluation, or if you are thinking about buying a home, click here to view all our listings. If you have any questions or are interested in meeting for a home buying or selling consultation, please call us at 239-595-8500.

From the entire Saad Team we want to send you warm and sunshine filled wishes from Naples Florida! We hope you enjoy spending time with your family and friends as the year comes to an end!

Thank you for choosing us to represent your family and friends in 2014 with all of your real estate needs near and far. It is our pleasure to have the opportunity to serve and help you.

If you or anyone you know is planning to sell, buy or invest in the new year, The Saad Team will be here to help you in Naples, or refer you to a great agent across the globe.

Happy Holidays and Happy New Year!

As always, The Saad Team is here to help you with all of your real estate needs. If you're looking to buy, sell or invest in Naples real estate, give us a call at (239) 595-8900! See you in 2015!

What Are Market Conditions in Naples Like?

We're very excited to ring in the New Year and recap what we saw in Naples real estate this last year!

Naples has had an incredible real estate run over the last year and we're looking forward to an even better one in 2015! Year to date there has been 9,884 closed sales.

We're hoping to see an increase in inventory, as there are many buyers in the market looking for the perfect home. Current inventory is sitting at 4,214 active listings (not including vacant land). This number has crept up as the season approaches. Indeed, conditions are ripe for getting top dollar for your home in a short amount of time.

Here is a breakdown of the sales statistics from The NABOR® October 2014 Report:

• Overall median closed price increased 13 percent from $235,000 in the 12-months ending October 2013 to $265,000 in the 12-months ending October 2014.

•Overall pending sales increased 9 percent from 839 in October 2013 compared to 911 in October 2014.

•Pending sales for condominiums in the $1 million-$2 million category increased 211 percent from 9 in October 2013 compared to 28 in October 2014.

•Overall closed sales decreased 2 percent from 9,912 in the 12-months ending 2013 to 9,667 in the 12-months ending 2014.

•Closed sales for single family homes in the $2 million and above category increased 31 percent from 210 in the 12-months ending October 2013 to 275 in the 12-month ending 2014.

•Median closed price increased 13 percent from $235,000 in the 12-months ending October 2013 to $265,000 in the 12-months ending October 2014.

•Overall median closed price for homes in the $1 million-$2 million and $2 million and above categories both decreased 3 percent.

•Overall inventory decreased 10 percent from 4,376 homes in October 2013 compared to 3,939 homes in October 2014.

•Average days on market for October is at 73.

As always, The Saad Team is here to help you with all of your real estate needs. If you're thinking about selling right now, give us a call at (239) 595-8900! We would love to hear from you!

You've Accepted An Offer! Now What?

Congratulations! You’ve accepted an offer on your Naples property. The first question we often get is “Now what?”

The time between accepting an offer and final closing is a critical period for both buyers and sellers. This is the time when financing and paperwork is done to assure that upon closing, everybody is on the same page at the same time.

Here is what is happening in the weeks leading up to closing.

A Good Faith Deposit is Placed in Escrow
Many times a deposit will be made with the offer to demonstrate the buyer is serious. If one was not included at the time of the offer, we will get one from the buyer within three business days or as negotiated.

The Inspection Period
Most of our contracts have a 15 day inspection period. This only gives buyers about two weeks to:

•Hire an inspector
•Have the home inspection done
•Get a comprehensive report created
•Acquire any secondary "expert" inspections
•Decide what and if any issues from the inspection need to be addressed

From the end of the 15 days, the buyer has 5 days to give a response. You then, as the seller, generally have 10 days to decide how to respond. You may decide to fix some items and/or opt to offer some sort of credit as closing. The contract is specific on what items are covered under the inspection parameters and the remedial action.

Title Work and Association Fees
During this period work is being done to insure that there are no problems with the home’s title and that any association fees are current. At this point the buyer is also making application to any association involved.

The Closing
Once all the paperwork and financial issues are sorted, we will be clear to close. You do not need to be present at the closing. Papers can be signed ahead of time and we will represent you.

A typical closing will take about 30-45 days. A cash sale may be done quicker. If there is a financing contingency in the offer, you can expect 45-60 days to close comfortably.

The closing process is more complicated than some imagine. You can count on us to make sure your best interests are being looked after throughout the process. To ensure a smooth process of selling your property call The Saad Team at 239-595-8500.

Use a full service real estate team to sell your Naples home for top dollar

The Saad Team is your full-service, concierge, one-stop real estate resource offering many different services in order to give you the best possible real estate experience. We want to share with you some of the concierge services we offer, whether you are here locally or across the globe.

Part of the customer service we offer our clients is our dedication to ensuring your property is in its best possible condition before we put it on the market. While we work to put it in top-notch condition, we will tell any potential buyers the property will be coming on the market soon to help build anticipation and excitement. This means we can generate buzz about your property while taking the time to get it ready for the photographs and professional marketing we do before putting on it in the MLS and other online home search sites.

We have relationships with reputable home stagers, cleaning services, painters, and any other necessary home service providers in order to ensure your property shows perfectly when it hits the market. Already moved out? No problem, we can prepare your home for sale and/or make any arrangements for the property to come on the market in the best shape. For example, if you need some landscaping and weeding done, we will gather the estimates, give the necessary people access, and get everything taken care of in your absence so we can get you as much money as possible from the sale of your property.

If you are selling your home in the Naples area, hire The Saad Team, a full-service team to relieve you of the stress of home selling and get you top dollar. If you have any questions about any of the services we offer or you know of anyone selling, buying or investing in real estate call us at (239) 595-8500 or email us at sold@thesaadteam.com

One-Stop Real Estate Resource

We can Help You Decide if Selling is Right or Not

Naples is a beautiful city with gorgeous homes for sale. If you are thinking about buying a home, click here to view all our listings, or if you want to sell, we can provide a Home Price Evaluation. If you have any questions or are interested in meeting for a home buying or selling consultation, please call us at 239-595-8500.

A lot of our clients here in Collier County have been asking us, "Is now a good time to sell my home, or should I wait?" In order to flush out a better answer than 'yes' or 'no' for you, here are some important things that you will need to consider about our local market in Naples.

Our market is not just seasonal: January, February, March and April are not the only times that people sell their homes in Florida. We have many more full-time residents here than in the past, and a lot of businesses are beginning to settle down here in Naples.

Summer is a great time to sell: During the summertime all of the ancillary workers here in Naples are less busy as the seasonal residents leave, and they have time to think about moving and buying a new home.

A lot of people - especially those with children in school - prefer to move during the summer when they do not have to coordinate school schedules and other priorities.

There is also a large amount of fly-in buyers that come to Naples during the winter, and then come summer they have finally decided to come back down to purchase a home that they had been eyeing. This helps them prepare their property for when they come back to spend time here during the winter months.

Inventory is low right now, so you have a good opportunity to sell your home quickly, and possibly with multiple offers that will significantly increase your sale price.

New construction in Naples is also on the rise, and this could cause some competition for you when you're selling your home. This also means that we will see more movement as people with older properties may desire to purchase newer ones.

Do you want to know if now is a good time for you to sell? There are many factors to consider, call The Saad Team, your local professionals, to sit down and discuss all of your individual needs.

Is It Time To Sell My Home?

Explaining the Feast and Famine Phenomenon in the Naples Real Estate Market

Naples is a beautiful city with gorgeous homes for sale. If you are thinking about buying a home, click here to view all our listings, or if you want to sell, we can provide a Home Price Evaluation. If you have any questions or are interested in meeting for a home buying or selling consultation, please call us at 239-595-8500.

Explaining the Feast and Famine Phenomenon in the Naples Real Estate Market

A lot of our clients here in Naples have noticed that when they check the MLS in their neighborhood they seem to find either a large amount of listings, or nothing it all. What is the reason for this feast and famine cycle in real estate? Well, let us explain.

When a new condominium complex is built, usually all of the sales occur at the same time. This can occur with subdivisions too. They are usually constructed in 2-3 years and consumers buy up the properties and lots all at the same time.

Once all of these properties are initially bought out, a turnover usually occurs after 3-7 years and people begin selling their properties. This obviously brings in a new batch of buyers and it creates a cycle where you have lots of buyers coming in around the same time every few years, and then you will see another wave of for-sale properties a few years down the road.

Another factor in this phenomenon can be the age of the building and the type of community that it harbors. Sometimes people move to a certain area for the lifestyle that it provides, but when their preferred lifestyle changes, then they will move elsewhere.

This is why it seems like everything suddenly pops up on the market, and then the next thing you know, nothing is for sale.

As always - if you're looking to buy, sell or invest in Naples real estate, then you know where to turn for satisfactory service. Call The Saad Team, your local professionals. We can sit down and discuss all of your individual needs.

Naples Is A Beautiful City

Real Estate Market Update for Collier County in Q1 2014

Real Estate Market Update for Collier County in Q1 2014

Our clients in Naples and Collier County have been consistently asking us what is going on in the real estate market here in South Florida. We will be comparing statistics from the first quarter of 2013 to what has happened in the first quarter of 2014 in order to provide you with a clearer picture of our market.

In the first quarter of 2013 there were 2,237 home sales compared to 2,352 sales in Q1 of 2014.

- This translates to a 5% increase in home sales year over year.

Naples and Collier County are currently situated in a normal market.
- Inventory for Q1 2014 has decreased to 4,405 homes compared to 5,136 homes in 2013.

The average days on market are at 95 for the first quarter of 2014, compared to 161 in 2013.

If you take a look at the graphs down below, you will see a few different statistics:

- Closed sales have increased slightly from the first quarter of 2013, but the number of pending sales has dropped just slightly.

- Year over year, both pending sales and closed sales have increased.

- Inventory has increased by roughly 14% from 2013.

- The median home price for homes valued at less than $300K has increased from $215K to $248K, which amounts to a 13% increase in value.

- The median price for homes that were worth more than $300K experienced a slight increase from $540K to $545K.

Another interesting thing we saw was that the median sales price in Q1 of 2013 was $230,000 dollars and the current median price in 2014 has jumped to $265,000 dollars.

- One reason for this change is that we saw decreases in sales under $300,000 but we saw a large rise in the sales of high-end properties in the $1 million - $2 million dollar range.

Overall, the real estate marker here in Naples is much better off than it was just a few years ago. We are in a normal market with a good level of inventory (perhaps a little bit on the low side, but it's evening out), sales are increasing at a stable rate and we're also seeing a lot of new construction start to take place.

Here are some of the things you can expect from the Collier County real estate market this summer:

1. You will be seeing a lot more new construction popping up.
2. Home sale prices will increase modestly.

- We will not see the rapid and unstable increase in home prices that we have experienced in years prior.

If you have any specific questions about your price point, your neighborhood, or your local market, call The Saad Team, your local professionals. We will sit down and discuss all of your individual needs.

To Determine Your Listing Period, Analyze Your Local Real Estate Market

How Long Should You List Your Naples Home?

A lot of our clients here in Naples have been wondering how long they should list their homes for. Some people believe that if they contract for a shorter listing period that an agent will work harder and sell their home faster. This is not necessarily true, and your agent has very little control over what happens in the real estate market. However, you need to give your real estate agent an adequate amount of time to get your property listed, marketed and sold.

You must take into account what is happening in your local real estate market. In addition to looking at the local market, you will want to also consider your specific neighborhood. Depending on where you are your property could sell a little faster or a little slower when compared to a similar property in a different area. Real estate markets can be extremely local and can vary wildly from community to community.

Determine an Agreeable Time Frame to Sell Your Property

You must take into account what is happening in your local real estate market. In addition to looking at the local market, you will want to also consider your specific neighborhood. Depending on where you are your property could sell a little faster or a little slower when compared to a similar property in a different area. Real estate markets can be extremely local and can vary wildly from community to community.

If you get impatient and remove your listing, you would then have to start the entire process over again, and this will only cost you more time and money. This is why it is important to hire professionals, like The Saad Team who know and study the market, pricing, and trends every day. Know your local real estate market before you sign a listing contract. You shouldn't expect your home to sell instantaneously, but you should have a reasonable time frame in mind so that your property does not go stale.

If you have any questions, or if you or anyone you know is looking to sell, buy, or invest in real estate, please contact the Saad Team at (239) 595-8500 or email us at sold@thesaadteam.com.

Real Estate Websites Can Lead You Astray

Are Online Home Searches Trustworthy?

Today we are going to talk about real estate websites because so many people are going online to search for homes these days. Whether it's shopping for shoes, searching for information, or browsing for homes, people are now turning to the World Wide Web as their #1 resource.

People often use websites like Realtor.com, Trulia, or Zillow to search for properties online. However, there are major pitfalls to using these websites when you're searching for a home in Naples, and this is what we want to address for you today.

Real Estate Websites are not Always Accurate or Updated
There are many times when we receive a call from one of our clients who is very excited to see a particular property in Naples. We will then speak with this client and get the information about the property, including the MLS number. The MLS is the home search engine that real estate professionals use to list homes and mark them as closed. This updated information helps us track sales data.

Websites like Trulia or Zillow will not have accurate and updated information on properties like the MLS will. We often find that a home that one of our clients saw on these websites is already sold or already under contract. Websites like these can waste your precious time, and this can end up costing you money as well as a good home.

Another downfall to these websites is that they use what is called an 'Automated Estimation Value System'. In fact, the NABOR listing contract specifically allows sellers to opt out of them, and most of our sellers choose to do this. This is because the automated value system that these websites utilize is often not accurate or up-to-date. This system does not always pull directly from the public records or the recent sales in your local area, so it gives people an inaccurate portrait of the market.

One more reason we do not recommend these websites to our customers is because they will actually take your information and sell it to real estate agents. Real estate agents can then 'buy' opportunities to get leads on listings by purchasing your information. This information is often sold to multiple agents who do not have your best interests in mind.

So, when you're looking to buy, sell or invest in a home, be sure to contact The Saad Team, your professional team of real estate agents. We can provide you with accurate information - and most importantly - a customized service to find the perfect home that will suit all of your needs.

We look forward to helping you find your dream home in Naples! As always, if you have any questions about the real estate landscape here in Collier County, please feel free to contact us and we would love to provide you with all of our updated information.

If you would like to buy, sell, or invest, give us a call at (239) 595-8500 or email us at sold@thesaadteam.com.

Use an Effective Pricing Strategy to Sell Your Naples Home Efficiently

Today we're here to speak with you about effective home pricing because it's an issue that we've been hearing about on some recent listing appointments

We understand that the real estate market in Naples has shifted, and it is what we would now call a normal market. What this means is that we are seeing homes coming on the market, getting regular offers, and then selling in an average time frame. Another property may come onto our market and sell for a little more than others may have, but we're not seeing huge price gaps like we had been experiencing in the past.

Our current inventory is steady and sales prices are proportionate to active listing prices, so this points to a neutral market here in Naples. Because of this, some home sellers assume that they can price their homes very high to begin with, and then lower their asking prices if they're not receiving any good offers.

Starting with a lofty listing price and then leveling out is a foolhardy pricing strategy because it will likely net you less money than pricing your home moderately and attractively, and it will also shrink your pool of buyers. When a buyer sees that your home is priced unreasonably, he/she will probably not even entertain the idea of looking at it again. You essentially price yourself off of the market if you price too steeply.

When you price your home effectively you make buyers compete over your property, and thereby raise your sales price through competition. A good price brings a steady pool of buyers that will be willing to pay a little extra for your property because they see great value in it. Overpricing the property typically results in fewer showings, a shrinking pool of buyers, and longer days on market, which produces lower offers. Create value and competition for your home through pricing!

What you really need to ask yourself is why an agent would tell you that you can sell your home for more money when comparable sales in the same area say otherwise? When you sell your property you need to be aware of what other properties are selling for in your area. Ultimately, it's the market that will determine the best listing price for your home. A realtor can tell you that they will be able to list your home at a higher price than other agents, but this does not mean that your home will be selling for that price, if at all.

When our team meets with you, we will show you all the active listings in the area, and any pending or recently closed sales. This will aid us in understanding the nuances of the market landscape and how it is going to affect the sale of your home. We will not price your home blindly or make any uniformed decisions. We realize that your real estate transaction is of the utmost importance to you, and we will only make decisions with the highest degree of certainty that they will benefit you.

If you have any questions about how to attractively price your home so it will sell in our real estate market in Naples, then please give us a call and we would be glad to discuss our proven pricing strategy with you.

You can call us at (239) 595-8500 or email us at sold@thesaadteam.com

Home Deposits may be Refunded Depending on Your Contract

Home Deposits may be Refunded Depending on Your Contract

I'm back with you today to discuss home deposits and whether or not you can get your money back after you have made an offer. Our guest today is real estate attorney, Sam Saad, President of Paradise Coast Title and Escrow.

This is a question we hear time and time again, and will refer this one to Sam who can lend a hand in explaining. As a practicing attorney, Sam wants you to know that these instructions are not considered legal advice, and that if you do seek legal counsel, then you should consult an attorney who can explain your rights to you while under contract.

It Depends on the Type of Contract you Signed

Going forward, Sam says that a deposit is refundable in certain cases depending on what type of contract you signed.

- If you signed the NABOR Contract, which is standard in Naples and Collier County, then your deposit is only refundable if you comply with the necessary inspection and finance provisions. These provisions are laid out very thoroughly and meticulously in the contract.

For example, if you have gone through the inspection criteria and the seller refuses to comply with your requests, then you would get your deposit back.

If the seller accepts a credit towards the property or goes through with the requisite repairs, then you would not receive your deposit back.

- If you signed the FAR/BAR Contract, then you may also get your deposit back. However, you still need to comply with the inspection and finance provisions within the contract. You can find more information about this contract here: https://www.floridarealtors.org/LegalCenter/HotTopics/Florida-Realtor-Florida-Bar-contracts.cfm

- The FAR/BAR As-Is Contract is very popular in the Naples area. This type of contract is most often associated with distressed home sales, and within the document there is a provision that allows the buyer a 15 day free-look:

Essentially, this allows you to sign the contract, put down your deposit, and after that you may conduct the necessary inspections. Within the 15 days you have the right to back out of the contract (for any reason whatsoever) and you will receive your deposit back - no questions asked.

The NABOR Contract that was mentioned earlier also has an As-Is addendum, which makes it a very safe contract for buyers.

You Need to Know your Options

Placing a deposit on a home may seem like an irrevocable act, this is not always the case, be sure to understand the contract that you're signing and are aware of your options within that documentation. As always, consult an attorney for representation if you have any sort of doubt as to what rights are afforded to you.

Do You Know Why Florida is a Great Place to Purchase Real Estate?

Do You Know Why Florida is a Great Place to Purchase Real Estate?

Today we have Sam Saad III joining us. Sam happens to be a real estate attorney here in the city of Naples and a member of the Naples city council. The reason we brought him along today is because as a real estate attorney, he deals with a lot of closings. As the president of Paradise Coast Title and Escrow, this also happens to be his specialty!

Today we wanted to talk to you about the importance of applying for Homestead. In Florida, homestead is something you can apply for when you own a property. However, as an attorney, Mr. Saad III has to remind you that this is not legal advice and if you have specific legal questions that need to be addressed by an attorney, you must do so accordingly.

Homestead in Florida is very complicated. Under the Florida constitution, Homestead is provided four protections with them being:

Real Estate Tax Exemptions

Out of the four protections, this is the most talked about.

In essence, as Sam Saad III explains, if you are approved for Homestead, you receive a $50,000 tax credit against the valuation on your property taxes for your ad valorem and a $25,000 credit on your school taxes.

What this means is that when the assessor comes to your home, they assess your property at a certain valuation that may not be the same as the sale price. The deduction is coming off what the value the assessor has set. Sam Saad III also added that once that assessor puts that valuation in place, the Save Our Homes Exemption provides a cap so the assessor cannot raise your taxable value (bear in mind this is different from your assessed value) by more than 3% per year. As you are most likely familiar with Florida real estate, we are prone to boom and bust periods. Sam states that this was put in place so you don’t feel giant increases in your property taxes. These are two great protections for people purchasing homes in Florida!

Debtor Protections

If a property is your Homestead, whether you are married or not, liens cannot attach to that property if a judgment is rendered against you and the person cannot take away your Homestead. Mr. Saad III noted that there are two important exceptions to that rule.

Three Exceptions

1. The first exception being that mortgage lenders can foreclose on your property if you don’t say your mortgage.

2. The second exception is that if you live in a mandatory homeowners association, the homeowners association can place a lien on your property.

3. Also bear in mind that credit card judgments and personal lawsuits, for example, do not attach to your Homestead. However if you do not pay your taxes, Federal laws generally override the state constitution. Mr. Saad III reminds us again that if there are Federal tax liens on your property, please consult your attorney to determine what your rights are. There are many exemptions and this must be dealt with properly.
For people who are looking to file for Homestead in Florida, Mr. Saad III tells us that you have to close on your property by December 31st and file for exemption by March 15th. If you did purchase your property last year, it’s important to file for your property tax reductions right away! The moment you move in your property and declare it your homestead, you receive the Debtor Protection. The other two protections do not relate to sales.

The one issue that does come up in closing is the fourth protection, the Restraint on Alienation. A husband and wife that own the property as joint tenants cannot sell the property out from the other. Essentially, it takes one to buy and two to sell.

This may seem a bit overwhelming, but Florida is a great state for Homestead! Sam states that we highly value it, the courts respect it, there are great tax exemptions and that it is a fantastic way to own your property. To learn more about Homestead, visit http://www.collierappraiser.com. If you would like to contact Sam Saad III, his information is Law Offices of Sam J. Saad III PA. 851 5th Avenue North Suite 306 Naples, Florida 34102. His phone number is 239-963-1635 if you would like to reach his office. If you have information to fax, his line is 239-791-1208.

Thanks and have a great day!

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Are Online Home Searches Trustworthy?